Market Overview
In 2023 the global heat meter market was estimated at US$ 1.6 million. By 2032 it is predicted to hit US$ 2.81 Billion, displaying a CAGR of 7.25% during the projected period 2023 to 2032. There are some countries that have mandatory regulations to install heat meters which gave the heat meter market worldwide progress. The European Union member nations are assigned to have a nationwide order grounded on the EED 2012, which implies the setting up of measurement equipment for separate apartment billing. In Russia, all the big buildings on the district heating array must have a hub meter connected. The Canadian market has increased demand for sub-metering thermal energy.
The global pandemic covid 19 had a major impact on the heat meter market. The output of many manufacturers tends to decrease due to the shutdown of industries. Heat meters have two applications like heating for boiler output and a chiller unit for the cooling output. The construction sector broke due to the pandemic, which resulted in a negative impact on the sale of the heat meter market.
Lockdown guidelines resulted in the hesitant rollout of new products, specifically in the smart heat meter. The key players of this market are Weihai Ploumeter Co. Ltd., Landis, Quadlogic Meters Canada Inc, Zenner International GmbH Co. KG, Kamstrup, Micronics Ltd, MWA Technology Ltd, Qundis, Apator S.A., Sontex SA.
Market segments
The global heat meter market is segmented by the following components type, connectivity, technology, application, by geography.
By Type
- Turbine Meters
- Ultrasonic Meters
- Vortex Meters
- Others
By Connectivity
- Wired
- Wireless
By Technology
- Mechanical
- Static
By Application
- Residential
- Commercial and Public
- Industrial
By Geography
North America
- The U.S.
- Canada
- Europe
- Germany
- France
- the United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East Africa
Regional analysis
By 2024 the U.S. heat meters market size will exceed installation by 510 thousand units. Ongoing regulatory assigned the development of policies for energy metering the rising focus toward energy efficiency and saving the cost will accelerate the business growth. For a while, the U.S. Department of Energy has confirmed policies and guidelines for utilities of metering the energy consumption in all the federal buildings.
China's heat meters market will rise on account of the rising acquisition of cost-effective measuring devices and suitable government policies to get energy efficiency. The increasing investments toward the development of manufacturing facilities will further drive the industry's growth. Rapid urbanization, improved reliability operations, and theft protection are some factors that support the industry expansion procedure.
Industry news
· Danish island is testing smart grid as the first step toward fossil-free zone. It is building the power grid of the future.
· Europe is about to hit $848 million by 2027 on the Energy metering technology.
· China charts the path to a green future.
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